Free trading on 212

The platform does not charge a fee for creating an account and allows investors to make 10 trades per month and up to £10,000 equity per trade for free. It estimates this will cover the needs of around 90 per cent of its customers.

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Hargreaves Lansdown plc offers a direct to investor investment service. The Company provides execution only, advisory services and third-party investments for individuals and corporates. Its segments are the Vantage division, the Discretionary/Managed division and the Third Party/Other Services division. The Vantage division represents activities relating to its direct to investor platform. The Discretionary/Managed division provides managed services, such as its Portfolio Management Service (PMS) and a range of multi-manager funds. The Third Party/Other Services division includes activities relating to the broking of third-party investments and pensions, certificated share dealing and other services, such as currency, contract for differences (CFDs) and spread betting. The Company's Vantage service allows clients to hold all their funds, shares, exchange traded funds (ETFs), bonds, investment trusts and self-invested personal pensions (SIPPs) in a single service. more »

Pretty limited stock list (no AIM I can see, seems mainly blue chips and ETFs) also not clear whether it's CFDs without leverage (where they are your counterparty) or a more classic brokerage where equities are segregated in a nominee company (with no netting with CFD customers).

As a business you can see how it might work if it entices enough customers to use the high-cost CFDs on the same platform.